Leaders first need to recognise the fundamental difference between change and transformation, before they can lead their companies on a journey of legitimate business transformation. While ‘change’ is required to maintain and modernise an organisation, this is not enough to sufficiently elevate both its internal capabilities and external offerings. Too many companies are being lulled into a false sense of transformation security through siloed digital projects and change initiatives that are not strategically transformational.

To take advantage of the opportunities and protect against threats that new digitally enabled business models present, leaders need to commit to being bold and transformational, ahead of those that remain safely within their comfort zones and traditional ways of working.

Leaders need to communicate this fundamental difference across their organisations to avoid their best resources being tied up making small changes instead of driving transformation. This is also required to keep the company’s best people on board and attract new talent, because the high-performers have a insatiable desire to be part of an ambitious digital transformation journey. If one company fails to take them on that journey, they will move to one that will.

Legitimate transformation also requires a fundamental shift in other aspects of an organisation. Appropriate governance, mindsets, business models, capabilities and culture are just some some of the transformation fundamentals that THRIVE addresses.